Loan Comparison: 4.98% vs 6.5%
1584 Vaughn, Aurora, CO 80012 · 5bd/3ba · $599,000
List Price
$599,000
Assumable Rate
4.98%
Remaining Balance
$552,978
Equity Gap
$68,026
Loan Type
FHAAdjust Your Scenario
$29,950
$29,950$68,026
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,597/moAssumable @ 4.98% + gap loan
$3,255/moAssumed loan: $2,962/mo
Gap financing: $293/mo
$342less per month with the assumable
Your Savings on This Property
1584 Vaughn, Aurora · 4.98% FHA vs 6.5% conventional
$342
per month
$4,107
per year
$123,214
over 30 years
$145,218
interest saved
How gap financing works: The equity gap ($68,026) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,950, 5% of purchase price) and a second mortgage for the rest ($38,076 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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